Abstract
Summary
The IoT integration market size is expected to grow from USD 3.2 billion in 2023 to USD 12.1 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 30.8% during the forecast period. IoT devices enable performing multiple functions faster in real-time due to their high computational power. The increasing adoption of IoT devices increases the need for integration services globally. The insights obtained after data analysis are important in improving business functions. IoT integration enables the convergence of physical and digital worlds, opening up new possibilities for automation, data-driven insights, and enhanced user experiences across various sectors.
Among service type, Device and Platform Management Services to hold the highest market share during the forecast period
Device and platform management services are integral components of the IoT integration market, focusing on the efficient and effective operation of IoT devices and the platforms that support them. The need to ensure seamless functioning and minimize disruptions will drive the segment's growth.
Among service type, Application Management Services hold the second highest market share during the forecast period
Application management services are instrumental in addressing the data retrieved from connected devices over networks and hosting applications. They also offer additional services, such as remote device management; data storage, monitoring, sharing, and management; and analytics. The application management services in the IoT integration market are driven by the need for optimized user experiences, security, scalability, and innovation.
Among regions, Asia Pacific is to hold a higher CAGR during the forecast period
The growth of the IoT integration market in Asia Pacific is highly driven by the rapid digitalization of enterprises across the region. Also, in Asia Pacific, smart city initiatives are particularly prominent, with governments and cities implementing IoT technologies to improve infrastructure, transportation, energy management, and public services will drive the market across the region.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the IoT integration market.
By Company: Tier I: 62%, Tier II: 23%, and Tier III: 15%
By Designation: C-Level Executives: 38%, Directors: 30%, and others: 32%
By Region: North America: 40%, Europe: 15%, Asia Pacific: 35%, Middle East and Africa: 5%, Latin America: 5%
The report includes the study of key players offering IoT integration solutions and services. It profiles major vendors in the global IoT integration market. The major vendors in the global IoT integration market include TCS Limited (India), Wipro Limited (India), Atos SE (France), Accenture (Ireland), Fujitsu Ltd. (Japan), Infosys Limited (India), Capgemini (France), HCL Technologies Limited (India), Tech Mahindra Limited (India), DXC Technology (US), IBM Corporation (US), Cognizant (US), NTT Data Corporation (Japan), Dell EMC (US), Deloitte (US), Salesforce (US), Allerin Tech Pvt Ltd (India), Softdel (US), Phitomas (Malaysia), eInfochips (US), Timesys Corporation (US), Tibbo Systems (Taiwan), Aeris (US), Macrosoft Inc. (US), Damco (US) and Meshed (Australia).
Research Coverage
The market study covers the IoT integration market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as service, organization size, application, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
• It comprehensively segments the connected toys market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the market’s pulse and provide information on the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape includes a competitor ecosystem, new service developments, partnerships, and mergers and acquisitions.
The report provides insights on the following pointers:
Analysis of key drivers (Proliferation of connected devices to encourage BYOD and remote workplace management, Development of wireless technologies, Need to increase operational efficiency, Maturing partner agreements of IoT vendors, Emergence of IPv6 ) restraints (Lack of standardization in IoT protocols) opportunities (Growing need to align management strategies with organizations’ strategic initiatives, Need for reduced downtime and increased operational efficiency, Increasing demand for automation in business processes, Increasing adoption of iPaaS) challenges (Data security and privacy concerns, Lack of skills and expertise) influencing the growth of the connected toys. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in IoT integration market. Market Development: Comprehensive information about lucrative markets – the report analyses the IoT integration market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the IoT integration market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players TCS Limited (India), Wipro Limited (India), Atos SE (France), Accenture (Ireland), Fujitsu Ltd. (Japan), Infosys Limited (India), Capgemini (France), HCL Technologies Limited (India), Tech Mahindra Limited (India), DXC Technology (US), IBM Corporation (US), Cognizant (US), NTT Data Corporation (Japan), Dell EMC (US), Deloitte (US), Salesforce (US), Allerin Tech Pvt Ltd (India), Softdel (US), Phitomas (Malaysia), eInfochips (US), Timesys Corporation (US), Tibbo Systems (Taiwan), Aeris (US), Macrosoft Inc. (US), Damco (US) and Meshed (Australia).
Table of Contents
1 INTRODUCTION 32
1.1 STUDY OBJECTIVES 32
1.2 MARKET DEFINITION 32
1.3 STUDY SCOPE 33
1.3.1 MARKET SEGMENTATION 33
1.3.2 GEOGRAPHICAL SCOPE 33
1.3.3 INCLUSIONS & EXCLUSIONS 34
1.3.4 YEARS CONSIDERED 34
1.4 CURRENCY CONSIDERED 34
1.5 SUMMARY OF CHANGES 35
1.6 STAKEHOLDERS 37
1.7 LIMITATIONS 37
1.8 IMPACT OF RECESSION 38
2 RESEARCH METHODOLOGY 39
2.1 RESEARCH DATA 39
2.1.1 SECONDARY DATA 40
- 2.1.1.1 Secondary sources 40
2.1.2 PRIMARY DATA 40
- 2.1.2.1 Breakdown of primaries 41
- 2.1.2.2 Primary sources 41
- 2.1.2.3 Key industry insights 42
2.2 MARKET BREAKUP AND DATA TRIANGULATION 42
2.3 MARKET SIZE ESTIMATION 43
2.3.1 TOP-DOWN APPROACH 43
2.3.2 BOTTOM-UP APPROACH 44
2.4 MARKET FORECAST 46
2.5 ASSUMPTIONS 46
2.6 IMPLICATIONS OF RECESSION ON IOT INTEGRATION MARKET 47
3 EXECUTIVE SUMMARY 48
4 PREMIUM INSIGHTS 52
4.1 ATTRACTIVE OPPORTUNITIES IN IOT INTEGRATION MARKET 52
4.2 ASIA PACIFIC IOT INTEGRATION MARKET, BY SERVICE AND COUNTRY 52
5 MARKET OVERVIEW AND INDUSTRY TRENDS 53
5.1 INTRODUCTION 53
5.2 MARKET DYNAMICS 53
5.2.1 DRIVERS 54
- 5.2.1.1 Proliferation of connected devices to encourage BYOD and remote workplace management 54
- 5.2.1.2 Development of wireless technologies 55
- 5.2.1.3 Need to increase operational efficiency 56
- 5.2.1.4 Maturing partner agreements of IoT vendors 56
- 5.2.1.5 Emergence of IPv6 57
5.2.2 RESTRAINTS 57
- 5.2.2.1 Lack of standardization in IoT protocols 57
5.2.3 OPPORTUNITIES 58
- 5.2.3.1 Growing need to align management strategies with organizations’ strategic initiatives 58
- 5.2.3.2 Need for reduced downtime and increased operational efficiency 58
- 5.2.3.3 Increasing demand for automation in business processes 58
- 5.2.3.4 Increasing adoption of iPaaS 58
5.2.4 CHALLENGES 59
- 5.2.4.1 Data security and privacy concerns 59
- 5.2.4.2 Lack of skills and expertise 60
5.3 ECOSYSTEM 60
5.4 VALUE CHAIN ANALYSIS 62
5.5 IOT INTEGRATION MARKET: USE CASES 63
5.5.1 USE CASE 1: RETAIL 63
5.5.2 USE CASE 2: HEALTHCARE 64
5.5.3 USE CASE 3: GOVERNMENT 64
5.5.4 USE CASE 4: TRANSPORTATION AND LOGISTICS 65
5.6 DISRUPTIONS IMPACTING BUYERS/CLIENTS IN IOT INTEGRATION MARKET 65
5.7 DISRUPTIVE TECHNOLOGIES 66
5.7.1 EDGE COMPUTING 66
5.7.2 5G 66
5.7.3 DIGITAL TWIN 66
5.7.4 ARTIFICIAL INTELLIGENCE 67
5.8 REGULATORY IMPACT 67
6 IOT INTEGRATION MARKET, BY SERVICE 69
6.1 INTRODUCTION 70
6.2 DEVICE & PLATFORM MANAGEMENT SERVICES 72
6.2.1 REMOTE MONITORING AND SUPPORT FACILITIES THROUGH IOT INTEGRATION SERVICES TO DRIVE MARKET 72
6.2.2 DEVICE & PLATFORM MANAGEMENT SERVICES: IOT INTEGRATION MARKET DRIVERS 72
6.3 APPLICATION MANAGEMENT SERVICES 73
6.3.1 DEVICE DATA COMMUNICATION AND INTERACTION TO ASSIST REAL-TIME BUSINESS DECISION-MAKING 73
6.3.2 APPLICATION MANAGEMENT SERVICES: IOT INTEGRATION MARKET DRIVERS 73
6.4 ADVISORY SERVICES 74
6.4.1 STANDARDIZATION OF BUSINESS PROCESSES AND STREAMLINING OF IT OPERATIONS TO PROPEL MARKET GROWTH 74
6.4.2 ADVISORY SERVICES: IOT INTEGRATION MARKET DRIVERS 75
6.5 SYSTEM DESIGN & ARCHITECTURE SERVICES 75
6.5.1 IMPROVED SYSTEM PERFORMANCE AND TAILORED CONFIGURATION ADVICE TO FUEL MARKET GROWTH 75
6.5.2 SYSTEM DESIGN & ARCHITECTURE SERVICES: IOT INTEGRATION MARKET DRIVERS 76
6.6 TESTING SERVICES 76
6.6.1 ENHANCED USER EXPERIENCE AND SEAMLESS WORKING OF DEVICES TO BOOST MARKET 76
6.6.2 TESTING SERVICES: IOT INTEGRATION MARKET DRIVERS 77
6.7 SERVICES PROVISIONING & DIRECTORY MANAGEMENT SERVICES 78
6.7.1 MANAGEMENT AND MAINTENANCE OF COMPLEX AND HETEROGENEOUS DIRECTORY DATABASES TO DRIVE MARKET 78
6.7.2 SERVICES PROVISIONING & DIRECTORY MANAGEMENT SERVICES: IOT INTEGRATION MARKET DRIVERS 78
6.8 THIRD-PARTY API MANAGEMENT SERVICES 79
6.8.1 SECURE EXPOSURE OF ENTERPRISE DATA TO MOBILE DEVICES, WEB APPLICATIONS, AND CONNECTED DEVICES TO PROPEL MARKET GROWTH 79
6.8.2 THIRD-PARTY API MANAGEMENT SERVICES: IOT INTEGRATION MARKET DRIVERS 79
6.9 DATABASE & BLOCK STORAGE MANAGEMENT SERVICES 80
6.9.1 EFFICIENT QUERY HANDLING AND HETEROGENEOUS DATA INTEGRATION TO BOOST MARKET 80
6.9.2 DATABASE & BLOCK STORAGE MANAGEMENT SERVICES: IOT INTEGRATION MARKET DRIVERS 80
6.10 NETWORK MANAGEMENT SERVICES 81
6.10.1 INCREASED EFFICIENCY OF EMPLOYEES AND REDUCED COST OF COMMUNICATIONS TO BOOST MARKET 81
6.10.2 NETWORK MANAGEMENT SERVICES: IOT INTEGRATION MARKET DRIVERS 82
6.11 INFRASTRUCTURE & WORKLOAD MANAGEMENT SERVICES 83
6.11.1 COST SAVINGS, OPERATIONAL EFFICIENCIES, AND ENHANCED CUSTOMER EXPERIENCE TO DRIVE MARKET 83
6.11.2 INFRASTRUCTURE & WORKLOAD MANAGEMENT SERVICES: IOT INTEGRATION MARKET DRIVERS 83
7 IOT INTEGRATION MARKET, BY APPLICATION 84
7.1 INTRODUCTION 85
7.2 SMART BUILDING & HOME AUTOMATION 86
7.2.1 SUPERIOR QUALITY SOLUTIONS WITH ENHANCED FEATURES TO FUEL MARKET GROWTH 86
7.2.2 SMART BUILDING & HOME AUTOMATION: IOT INTEGRATION MARKET DRIVERS 87
7.3 SMART HEALTHCARE 88
7.3.1 SPIKE IN DEMAND FOR TELEMEDICINE AND INCREASE IN INTEREST FOR WEARABLE DEVICES TO DRIVE MARKET 88
7.3.2 SMART HEALTHCARE: IOT INTEGRATION MARKET DRIVERS 88
7.4 ENERGY & UTILITIES 89
7.4.1 PROCESS OPTIMIZATION, MINIMAL INVENTORY COSTS, AND IMPROVED PRODUCTIVITY TO DRIVE MARKET 89
7.4.2 ENERGY & UTILITIES: IOT INTEGRATION MARKET DRIVERS 90
7.5 INDUSTRIAL MANUFACTURING & AUTOMATION 91
7.5.1 ADOPTION OF IOT INTEGRATION SERVICES DUE TO INCREASED SPEED OF CONNECTIVITY NETWORKS TO DRIVE MARKET 91
7.5.2 INDUSTRIAL MANUFACTURING & AUTOMATION: IOT INTEGRATION MARKET DRIVERS 91
7.6 SMART RETAIL 92
7.6.1 IMPROVED ORDER AND INVENTORY MANAGEMENT TO BOOST MARKET 92
7.6.2 SMART RETAIL: IOT INTEGRATION MARKET DRIVERS 93
7.7 SMART TRANSPORTATION, LOGISTICS, AND TELEMATICS 94
7.7.1 GROWING NEED TO MANAGE REAL-TIME DATA OF TRANSPORTATION SYSTEMS TO DRIVE MARKET 94
7.7.2 SMART TRANSPORTATION, LOGISTICS, AND TELEMATICS: IOT INTEGRATION MARKET DRIVERS 94
8 IOT INTEGRATION MARKET, BY REGION 96
8.1 INTRODUCTION 97
8.2 NORTH AMERICA 98
8.2.1 NORTH AMERICA: IOT INTEGRATION MARKET DRIVERS 99
8.2.2 NORTH AMERICA: RECESSION IMPACT 99
8.2.3 NORTH AMERICA: TARIFFS AND REGULATIONS 99
8.2.4 US 102
- 8.2.4.1 Industrial digitization and increased use of connected devices to drive market 102
- 8.2.4.2 US: IoT integration market drivers 103
8.2.5 CANADA 105
- 8.2.5.1 Technological advancements and growing adoption of smart grids to boost market 105
- 8.2.5.2 Canada: IoT integration market drivers 105
8.3 EUROPE 107
8.3.1 EUROPE: IOT INTEGRATION MARKET DRIVERS 108
8.3.2 EUROPE: TARIFFS AND REGULATIONS 108
8.3.3 EUROPE: RECESSION IMPACT 108
8.3.4 UK 111
- 8.3.4.1 Strong support from government agencies for development of IoT and innovation to fuel demand for IoT integration services 111
- 8.3.4.2 UK: IoT integration market drivers 111
8.3.5 GERMANY 113
- 8.3.5.1 Government initiatives, such as Industrie 4.0, to fuel market growth 113
- 8.3.5.2 Germany: IoT integration market drivers 114
8.3.6 REST OF EUROPE 116
8.4 ASIA PACIFIC 118
8.4.1 ASIA PACIFIC: IOT INTEGRATION MARKET DRIVERS 118
8.4.2 ASIA PACIFIC: IMPACT OF RECESSION 119
8.4.3 ASIA PACIFIC: TARIFFS AND REGULATIONS 119
8.4.4 CHINA 123
- 8.4.4.1 Heavy financial and strategic involvement of government in R&D to drive adoption rate of IoT 123
- 8.4.4.2 China: IoT integration market drivers 123
8.4.5 JAPAN 125
- 8.4.5.1 Increasing automation for asset management processes through IoT integration services to propel market 125
- 8.4.5.2 Japan: IoT integration market drivers 126
8.4.6 INDIA 127
- 8.4.6.1 Government initiatives for development of smart cities and smart manufacturing to boost market 127
- 8.4.6.2 India: IoT integration market drivers 128
8.4.7 REST OF ASIA PACIFIC 130
8.5 MIDDLE EAST & AFRICA 132
8.5.1 MIDDLE EAST & AFRICA: IOT INTEGRATION MARKET DRIVERS 133
8.5.2 MIDDLE EAST & AFRICA: IMPACT OF RECESSION 133
8.5.3 MIDDLE EAST & AFRICA: TARIFFS AND REGULATIONS 133
8.5.4 SAUDI ARABIA 136
- 8.5.4.1 Increase in smartphone and internet penetration to drive market 136
- 8.5.4.2 Saudi Arabia: IoT integration market drivers 136
8.5.5 UAE 138
- 8.5.5.1 Increase in adoption of IoT integration services to fuel market growth 138
- 8.5.5.2 UAE: IoT integration market drivers 139
8.5.6 REST OF MIDDLE EAST & AFRICA 140
8.6 LATIN AMERICA 142
8.6.1 LATIN AMERICA: IOT INTEGRATION MARKET DRIVERS 143
8.6.2 LATIN AMERICA: IMPACT OF RECESSION 143
8.6.3 LATIN AMERICA: TARIFFS AND REGULATIONS 143
8.6.4 BRAZIL 146
- 8.6.4.1 Large startup ecosystem and rapid urbanization to propel market growth 146
- 8.6.4.2 Brazil: IoT integration market drivers 146
8.6.5 MEXICO 148
- 8.6.5.1 Increase in mobile broadband subscriptions and smartphone penetration rates to drive adoption of IoT integration services 148
- 8.6.5.2 Mexico: IoT integration market drivers 149
8.6.6 REST OF LATIN AMERICA 150
9 COMPETITIVE LANDSCAPE 153
9.1 INTRODUCTION 153
9.2 STRATEGIES ADOPTED BY KEY PLAYERS 153
9.3 MARKET SHARE ANALYSIS OF TOP PLAYERS 154
9.4 HISTORICAL REVENUE ANALYSIS 155
9.5 MARKET RANKING OF KEY PLAYERS IN IOT INTEGRATION MARKET, 2023 155
9.6 COMPANY EVALUATION QUADRANT 156
9.6.1 STARS 156
9.6.2 EMERGING LEADERS 156
9.6.3 PERVASIVE PLAYERS 156
9.6.4 PARTICIPANTS 156
9.7 STARTUP/SME EVALUATION MATRIX 157
9.7.1 PROGRESSIVE COMPANIES 157
9.7.2 RESPONSIVE COMPANIES 158
9.7.3 DYNAMIC COMPANIES 158
9.7.4 STARTING BLOCKS 158
9.8 COMPETITIVE SCENARIO 159
9.8.1 PRODUCT LAUNCHES 159
9.8.2 DEALS 160
10 COMPANY PROFILES 168
10.1 MAJOR PLAYERS 168
10.1.1 ACCENTURE 168
10.1.2 DXC TECHNOLOGY 173
10.1.3 DELOITTE 177
10.1.4 ATOS 181
10.1.5 TCS 186
10.1.6 WIPRO 190
10.1.7 CAPGEMINI 193
10.1.8 FUJITSU 196
10.1.9 IBM 199
10.1.10 COGNIZANT 202
10.1.11 SALESFORCE 205
10.1.12 NTT DATA 208
10.1.13 INFOSYS 211
10.1.14 HCL 212
10.1.15 TECH MAHINDRA 213
10.1.16 DELL EMC 214
10.1.17 DAMCO 215
10.2 STARTUPS/SMES 216
10.2.1 ALLERIN 216
10.2.2 SOFTDEL 217
10.2.3 PHITOMAS 218
10.2.4 EINFOCHIPS 219
10.2.5 TIMESYS 220
10.2.6 TIBBO 221
10.2.7 AERIS 222
10.2.8 MACROSOFT 223
10.2.9 MESHED 224
11 ADJACENT/RELATED MARKETS 225
11.1 IOT MIDDLEWARE MARKET 225
11.1.1 MARKET DEFINITION 225
11.1.2 MARKET OVERVIEW 225
- 11.1.2.1 IoT middleware market, by platform type 226
- 11.1.2.2 IoT middleware market, by organization size 226
- 11.1.2.3 IoT middleware market, by vertical 227
- 11.1.2.4 IoT middleware market, by region 228
11.2 IOT CLOUD PLATFORM MARKET 229
11.2.1 MARKET DEFINITION 229
11.2.2 MARKET OVERVIEW 229
- 11.2.2.1 IoT cloud platform market, by offering 230
- 11.2.2.1.1 Platform 230
- 11.2.2.1.2 Services 231
- 11.2.2.2 IoT cloud platform market, by deployment mode 231
- 11.2.2.2.1 Public cloud 232
- 11.2.2.2.2 Private cloud 232
- 11.2.2.2.3 Hybrid cloud 233
- 11.2.2.3 IoT cloud platform market, by application area 233
- 11.2.2.4 IoT cloud platform market, by region 234
- 11.2.2.1 IoT cloud platform market, by offering 230
11.3 IOT PROFESSIONAL SERVICES MARKET 234
11.3.1 MARKET DEFINITION 234
11.3.2 MARKET OVERVIEW 235
- 11.3.2.1 IoT professional services market, by service type 235
- 11.3.2.2 IoT professional services market, by organization size 236
- 11.3.2.3 IoT professional services market, by deployment type 237
- 11.3.2.4 IoT professional services market, by application 238
- 11.3.2.5 IoT professional services market, by region 238
12 APPENDIX 240
12.1 DISCUSSION GUIDE 240
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 243
12.3 CUSTOMIZATION OPTIONS 245
12.4 RELATED REPORTS 245
12.5 AUTHOR DETAILS 246